All seems set for the embattled gold collectibles dealership firm, Menzgold Ghana, to resume operations on November 5th, 2018.
Acting Head of Communication at Menzgold Ghana Limited, Nii Amarh Amarteifio, announced in a news release titled: ‘Updates Following The 8th October 2018 Media Release,’ that “Menzgold could commence full operations on or before 5th Nov. 2018, with the launch of a new online Gold/Collectibles Trading product.”
The statement said the new product “would make it possible for existing transactions to be migrated onto it for immediate and prompt extra value and principal payments in order for business to proceed as usual.”
It would be recalled that the Securities Exchange Commission (SEC) earlier in September 2018, ordered Menzgold Ghana Limited to suspend its gold trading operations with the public.
The directive, according to SEC, was based on the ‘fact’ that Menzgold had been dealing in the purchase and deposit of gold collectibles from the public and issuing contracts with guaranteed returns with clients, without a valid license from the Commission.
The move, SEC explained, was in contravention of “section 109 of Act 929 with consequences under section 2016 (I) of the same Act.”
The company was, however, allowed to continue its “other businesses of assaying, purchasing gold from small-scale miners and export of gold.”
However, Mengold Ghana, in its latest statement announcing its intention to resume operations in November, did not state how far it has gone in resolving its differences with SEC.
“We wish to assure our cherished customers of our unreserved commitment to stabilize, sustain and grow the Menzgold cause, all in our resolve to serve our customers better,” Menzgold Ghana said about its reopening.
“Menzgold Ghana would once again like to thank all customers for your patience and support physically and spiritually as we navigate through these cold trying waters to a fruitful, expected and fulfilling end,” it said.
It remains to be seen as to whether Menzgold Ghana will finally bounce back on November 5th, as being announced, as the company had previously issued such press statements either calling the bluff of Bank of Ghana (BoG) and SEC only to be compelled by the regulators later to ‘do the right thing.’
Payments
Meanwhile, it also indicated its preparedness to pay its customers their principal, thanking them for going through the registration process as required by the company.
It would be recalled that at the latter part of September 2018, the Securities and Exchange Commission urged Menzgold to pay extra values on its customers gold deposits.
“The percentages to be paid will be officially communicated in a press release after a stakeholders meeting scheduled for this weekend. All agreed percentage payments will be made via direct transfer into the accounts of all customers who have expressed their willingness to terminate their transactions shortly thereafter,” according to Menzgold Ghana in the statement dated October 26, 2018.
Source: Daily Guide
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OH GOD MAY U CONTINUE TO BLESS THIS WITH ANYTHING HE TOUCHES WITH IS HAND AND SAYS WITH MOUTH GUILD HIM THROUGH ANY WHERE HE GOES GRANT HIM STRENGTH,LONG LIFE PEACE AND PROSPERITY NAM 1 NANA ADDO WILL TRY UR LOOSE BUT HE WILL RATHER LOOSE 2020 ELECTION NAN 1
FORGET. Not again. Pure 419 Ponzi scheme. These are their features. Fake sensational news. You are done. Your cup if full to the brim. Be gone.
All that glitters is not Gold. Hush. How can I give my money to An Office, without knowing the kind of business the office will transact my money with,such as to pay me bountiful interest pn the ?.How many people asked of where their money were going to be invested before giving the money to menzgold. Shine your eyes for another online.......Don't say that I didn't warn you ohhh!!!.
If mr.appiah mensah is reading this i humbly want to appeal to his consions to please do well to renturn our capitals to us cos as am speaking now am an ophan who had just started life and asingle mother who is struggling to make ends meet even food to eat as am speaking is a problem my child schoolfees has not been paid and have lot of bills to pay my depters are on my neck each day i wake now am very ill and don't know how to aproach the hospital cos there is not even a single coin on me to even buy over the counter drug ...our means of survival is all we have wit ur company and am afraid if some of us survive before the period of 90 days end, it will be a miracle..also know that we trusted u that why we have our monies with u so when ever you take a decision on percentages u want to pay think about the poor once like me and how it will afect our lives .thank u
Apuuu... Typical of a Ponzi scheme to always give promises even when caught pants down. If they are able to pay all clients call me Fusseina. My dear customers, please forget about the money wai. Because the earlier you do, the better for you. Consider it as if you were robbed by armed robbers. Just that, in this case these robbers were armed with pens and bigger brains. Sorry to be this harsh but you've all been made mugus.
Ghanaians who have described MenzGold customers as GREEDY should be ashamed of themselves and keep off from MenzGold and their customers because they are enemies who have supported BoG and SEC to collapse MenzGold and had it not been for the ingenuity of managers of MenzGold, investors would have lost all their investments. If BoG and SEC had licenced MenzGold, they would have generated revenue for the state but because they were inwardlooking and selfish they will not get even a pesewa.
Customers must be careful menz good is 100% behind the collapsing of all the banks 1st I don’t understand u having customers money with you and you were asked to seize new Registration then u said it has affected old member how possible and moreover a time will come that people will put their hands on their head and start crying again because how can the ceo tell challenge a customer to keep the gold at home and come and show it and take your benefit SEC asked them to register and is not the matter of default payment or not it’s about the constitution how would u host people’s money without registering. 2nd customers of the collapse bank has deposited their monies at menz gold and made the banks lack enough fund to run their activities customers just be wise and watchful
The Lord has seen the plight and heard the cries of poor customers of MenzGold and will not allow oppressive State institutions to send them to their graves. Thanks be to God for His abundant grace and mercies.
THANK GOD ........